Oslo, 26.02.2021 at 10:00 CET
Fiven ASA fourth quarter report 2020 - Positive EBIDTA development
- Total revenues reported at EUR 23.8m, down by 8.7% versus fourth quarter 2019.
- The adjusted EBITDA was EUR 3.9m, versus EUR 2.3m fourth quarter 2019.
- The adjusted EBITDA margin increased, with key drivers coming from better sales mix, favorable situation on forex and cost reduction measures, and in spite of a net increase of provisions for inventory risk of EUR 0.6m.
- The cash balance ended at EUR 23.0m versus EUR 14.8m in Q4 2019. The quarter on quarter improvement was EUR 6.3m coming from strong working capital performance.
- The leverage ratio has improved and ended at 2.29.
- Fiven continues to see an increase in order intake level. The recovery pace still remains subject to the impact of the sanitary situation of the pandemic and the economy.
It remains too early to foresee a pre-pandemic level recovery in an environment of high uncertainty and uneven impacts. The end markets are expected to recover slowly, but the pace is subject to worldwide vaccination and the ease of lockdowns. Fiven, through its customer-centric organization, continues to take all the proper measures to manage efficiently through an extended period of fluctuated demand. Nonetheless, the management is equally focusing on sustainability, the safety of all its stakeholders, and further enhancing the growth in the customized market that is less prone to sudden macroeconomic changes. Fiven ensures to be best prepared for when it is time to ramp-up the complete product range again.
The full fourth quarter report 2020 can be downloaded from https://www.fiven.com/company-information/investor-relations/reports/
This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 10:00 CET on 26.02.2021.
For further information, please contact:
Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, Stein.E.Ommundsen@Fiven.com
Stefan Mokros, IR Manager
+49 221 6507 6097, email@example.com
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